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Scam Tied to JOBS Act on SEC’s Radar, Agency Warns

Washington state businessman hit with fraud charges.

By Michelle A. Samaad | Updated on April 29, 2013

The SEC has announced fraud charges against a Washington state company that it says is misleading investors with claims to raise billions of investment capital under the Jumpstart Our Business Startups Act.

According to the SEC, Daniel F. Peterson and his company USA Real Estate Fund 1 allegedly promised investors that they could reap spectacular returns from an upcoming offering in a secured product backed by prominent financial firms.

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